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Harmonized inflation in Cyprus rises to 2.1%

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In January 2019 the Harmonized Index of Consumer Prices in Cyprus increased by 2.1% compared to January 2018, while compared to December 2018 the HICP decreased by 0.8%. according to data released Friday by the Statistical Service of Cyprus and the Eurostat. A year earlier it was negative at -1.5%.

Compared to January 2018, the largest change was noted in category Housing, Water, Electricity, Gas and Other Fuels with a change of 11.5%.

Compared to December 2018, the largest change was recorded in category Clothing and Footwear (-17.3%).

As regards the economic origin, the largest change when comparing to the index of January 2018 was observed in category Food, Alcoholic Beverages and Tobacco with a change of 4.3%. In comparison to the index of the previous month, the biggest changes were noticed in Energy and Non Energy Industrial Goods, with changes of -4.8% and -4.7% respectively.

The euro area annual inflation rate was 1.4% in January 2019, down from 1.5% in December. A year earlier, the rate was 1.3%. European Union annual inflation was 1.5% in January 2019, down from 1.6% in December. A year earlier, the rate was 1.6%. Inflation in Greece decreased to 0.5% in January 2019, from 0.6% in December 2018, while a year ago it was 0.2%.

The lowest annual rates were registered in Greece (0.5%), Croatia and Portugal (both 0.6%). The highest annual rates were recorded in Romania (3.2%), Latvia (2.9%), Estonia and Hungary (both 2.8%). Compared with December 2018, annual inflation fell in sixteen Member States, remained stable in five and rose in seven.